July 17, 2017
Institutional investors advised by J.P. Morgan Asset Management bought the Downtown Boulder Office Portfolio from Blackstone for $101.25 million. The three Boulder, CO office buildings total 216,802 square feet, and include 1900 15th St., 1881 9th St., and 1050 Walnut St.
Nearly half of the portfolio features space geared toward creative tenants, and includes outdoor decks and open/exposed ceilings. All three buildings have undergone a total of $7.7 million in renovations in the past six years, positioning the buildings among the top of the Class A office pool.
JLL’s Peter Nicoletti, Maggie Coleman, Baxter Fain, Patrick Devereaux and Jason Schmidt handled the sale and financing.
“This was a rare opportunity to acquire well-located creative space at scale,” said Nicoletti. “We continue to see institutional investors show appetite for portfolio-level deals, especially in fundamentally sound markets like Boulder where they can create rent upside.”
For comments, questions or concerns, please contact Dennis Kaiser